Common use of Registration of the Certificate Clause in Contracts

Registration of the Certificate. The Owner Trustee is hereby appointed as, and does hereby agree to act as, Certificate Registrar hereunder and, in such capacity, shall keep or cause to be kept, at the office or agency maintained pursuant to Section 3.08, a Certificate Register in which, subject to such reasonable regulations as it may prescribe, it shall provide for the registration of the Certificate. In the event that the Certificate Registrar shall for any reason become unable to act as Certificate Registrar, the Certificate Registrar shall promptly give written notice to such effect to the Sponsor and the Owner Trustee. Upon receipt of such notice, the Sponsor shall appoint another bank or trust company, which shall agree to act in accordance with the provisions of this Agreement applicable to it and otherwise acceptable to the Owner Trustee and the Certificateholder, to act as successor Certificate Registrar under this Agreement. At the option of the Certificateholder, the Certificate may be exchanged for another Certificate to be exchanged at the office or agency maintained pursuant to Section 3.08.